Dealing with scamming traders from – no information about countries is a real headache costing you time and money. With the right information, you can avoid these issues. That is why we have written this AXCapital review to help you understand this cyber fraud and keep your funds out of harm’s way.
In brief, AXCapital is just one of many shady brokerage firms saturating today’s markets and operating unlicensed, unregulated, and anonymously. Its poor service, adverse conditions, subpar platform, and fraudulent characteristics can’t be of any use to you since you will end up swindled.
On top of that, we seriously recommend you not to invest in the fake brokers Northern Bits, AllinvestFX, and Everrise Brokers. Do not trade with these unlicensed brokers if you want to save your money!
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||N/A|
|Headquarters Country:||United States|
|Cryptocurrencies:||Yes (Ethereum, Tether, Bitcoin, Ripple)|
|Types of Assets:||FX pairs, cryptocurrencies, stocks, and indices|
|Free Demo Account:||Yes|
|Accepts US clients:||No|
AXCapital Is a Reliable Broker With a License?
AXCapital is a long way from being a trustworthy and licensed broker. It is unknown where it is based (despite the unproven statement that its HQ is in Michigan, USA) and who owns it. We are not even sure if it is a registered entity at all. All of these stink to high heaven.
But suppose this firm is registered in the US, which is one of the most stringent jurisdictions. In that case, AXCapital must be approved by one of the US financial market regulatory agencies (e.g., NFA, CFTC), which it is not.
Why Is Trading On a Licensed Broker’s Platform Preferable?
Speaking of the importance of trading with regulated brokers brings us to the safety of your funds, which is, of course, most vital for you. Risk management tools and regulations ensure it. The first refers to negative balance protection and segregated accounts, while the latter relates to stringent measures enforced by financial market supervisory agencies to stave off trading scams.
The most sought-after brokerage firms are those based in the UK, EU, Australia, and the USA because of the credibility of financial bodies in those jurisdictions. AXCapital is not nearly enough to be authorized by top-notch financial regulators such as the British FCA, Australian ASIC, and German BaFin.
It comes with no surprise since these premium institutions are thorough, and rigorous, and have a zero-tolerance policy for rule violations. On top of this, they cover traders with indemnification programs for adverse events. For example, in the case of insolvency, traders of ASIC-licensed brokerage firms can be reimbursed up to 100,000 AUD.
Is AXCapital a Legit Broker or a Scam?
AXCapital is allegedly a US-based broker with no trading credentials and regulations, weak trading software, and unfavorable terms of exchange–thus, take no chance with a such fraudulent company.
What Trading Software Does the AXCapital Broker Offer?
When it comes to the AXCapital trading platform, this phony broker promises intuitive and easy-to-use trading software that comes with constant support, the most popular tradable assets, and leading-edge tools (market analysis, economic calendar, and risk assessment). However, this is far from the truth; its trading program is a browser-based platform that can deliver nothing of the above.
For comparison, powerful trading platforms such as MetaTrader 4, Meta Trader 5, cTrader, and Sirix can meet and exceed the needs of both beginners and experienced traders by offering modern features like stop loss, expert advisors, and copy trading.
AXCapital Accounts Overview
With regard to trading accounts offered by the AXCapital broker, there is no information on the minimum required deposits, account types, and trading conditions relating to accounts.
This is a classic sign of a financial hoax since this bogus broker probably charges hefty for deposits and offers unreasonable conditions. Unlike fake brokers, legitimate companies are transparent on this matter. For example, you can start trading with them for less than 50 USD.
Regarding a demo account, it is reportedly available at AXCapital. This option allows traders to trade for free, with no risks, build and evaluate their strategies, and test the trading platform.
The vast majority of genuine businesses provide practice accounts, but it is less likely possible with scam brokers. Even if AXCapital offers demo accounts, it is still a financial swindler.
Also remember the names of the Ecap24, BitAurox and Metadoro trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
AXCapital Range of Trading Markets
According to its website, AXCapital offers the most popular trading instruments, such as follows.
- FX pairs: USD/JPY, AUD/USD, USD/CAD
- Cryptocurrencies: Bitcoin, Litecoin, Ripple
- Stocks: Apple, Amazon, Disney
- Indices: S&P500, Dow Composite, Nasdaq
Keep in mind that this offer is just fabricated to give an impression of a valid and competent brokerage firm. In reality, AXCapital is yet another dishonest scam broker.
What Is Known About AXCapital’s Trading Conditions?
In our AXCapital review, we analyzed trading conditions available at AXCapital. We already mentioned that the minimum deposit amount is not revealed as well funding methods. It is stated that depositing is fast and that you can set up an account in a few minutes, meaning no background check, which is another warning sign.
As for withdrawals, this company doesn’t provide info on means of payment, processing time, and related fees. Considering the nature of this broker, we are skeptical that you will ever be able to draw funds.
In addition, this unscrupulous broker offers bonuses that are banned in many jurisdictions, including the US, UK, and EU, just to persuade you to invest. Lastly, AXCapital is not transparent about leverage and spreads and other terms of exchange, which is expected from this untrustworthy FX broker. One of the dirty tricks is to offer high leverage (above restricted 1:30) and manipulated spreads (starting at 0.0 pips) to entice you.
Scammed by AXCapital Broker? – Let Us Hear Your Story
Every victim of the AXCapital trading scam should realize that it is possible to get money back. However, it can only be achieved by undertaking the right actions. First, don’t feel embarrassed about reporting scams; do it as soon as possible. Second, leave negative AXCapital reviews on relevant web pages to alert others. Finally, you should seek advice on chargebacks from cyber security experts.
But What Is A Chargeback?
If wonder what chargeback is, let us explain it. Certain methods of payment are possible to reverse and are considered safe. For instance, with credit cards (VISA and Mastercards) it is workable to apply for cashback (within 540 days). Likewise, you can cancel bank transactions, i.e., they are reversible until you confirm.
Oppositely, crypto payments are frequently used by con artists since it is hard to trace them back and annul them.
Nevertheless, if you need help with chargebacks, book a free consultation with our chargeback specialists who will help you to regain your money. Also, our company can assist you with bringing charges and reporting criminals. Get in touch today!